Midwest signs MoU with Indonesia state miner PERMINAS for rare earth collaboration
MIDWESTLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Midwest Limited, along with Midwest Energy Limited and NFTDC (under India's Ministry of Mines), signed an MoU with PERMINAS, Indonesia's state-owned strategic minerals enterprise. The collaboration covers critical minerals and rare earth resources in Indonesia, including exploration, mining, processing, refining, and rare earth magnet production. No monetary commitment at this stage. Midwest Energy is a promoter group entity, making this a related party transaction at arm's length. A joint working group will oversee implementation.
Positive - opens Southeast Asian market for rare earth value chain; early stage MoU with no financial commitment yet, so execution risk remains.